Foreign Trade Statistics Report Q4 2024
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Nigeria's total merchandise trade stood at ₦36,604.83 billion in Q4, 2024. This represents an increase of 68.32% compared to the value (₦21,747.40) recorded in the corresponding period of 2023 and a rise of 2.20% over the value recorded in the preceding quarter (₦35,818.35). In the quarter under review, exports accounted for 54.68% of total trade with a value of ₦20,014.33 billion, showing an increase of 57.67% rise over the value recorded in the fourth quarter of 2023 (₦12,693.62) and a decrease of 2.55% compared to the value recorded in Q3 2024 (₦20,537.17).
Nigeria's exports trade continued to be dominated by crude oil in the fourth quarter of 2024, which was valued at ₦13,783.00 billion representing 68.87% of total exports while the value of non-crude oil exports stood at ₦6,231.33 billion accounting for 31.13% of total exports; of which non-oil products contributed ₦2,842.52 billion or 4.20% of total exports.
